Waverly Advisors LLC Purchases Shares of 7,883 Snowflake Inc. (NYSE:SNOW)

Waverly Advisors LLC acquired a new stake in Snowflake Inc. (NYSE:SNOW) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 7,883 shares of the company’s stock, valued at approximately $1,274,000.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Snowflake by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 21,286,148 shares of the company’s stock valued at $3,439,842,000 after buying an additional 297,428 shares during the last quarter. Jennison Associates LLC grew its position in shares of Snowflake by 3.7% in the first quarter. Jennison Associates LLC now owns 7,008,464 shares of the company’s stock valued at $1,132,568,000 after purchasing an additional 249,249 shares during the last quarter. Sands Capital Management LLC increased its stake in shares of Snowflake by 12.6% during the fourth quarter. Sands Capital Management LLC now owns 5,443,406 shares of the company’s stock worth $1,083,238,000 after purchasing an additional 610,970 shares during the period. Norges Bank acquired a new stake in Snowflake during the 4th quarter worth approximately $838,455,000. Finally, WCM Investment Management LLC boosted its stake in Snowflake by 0.6% in the 1st quarter. WCM Investment Management LLC now owns 1,848,043 shares of the company’s stock valued at $298,644,000 after purchasing an additional 11,677 shares during the period. 65.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Snowflake

In other news, EVP Christian Kleinerman sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $161.15, for a total transaction of $241,725.00. Following the completion of the transaction, the executive vice president now owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Christian Kleinerman sold 1,500 shares of Snowflake stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $161.15, for a total value of $241,725.00. Following the transaction, the executive vice president now directly owns 772,597 shares of the company’s stock, valued at $124,504,006.55. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Emily Ho sold 6,500 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $158.36, for a total value of $1,029,340.00. Following the completion of the sale, the chief accounting officer now owns 36,076 shares in the company, valued at $5,712,995.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 520,678 shares of company stock worth $64,962,300. 7.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SNOW has been the topic of several recent research reports. Mizuho lowered their price objective on Snowflake from $205.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 5th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of Snowflake in a research report on Thursday, June 6th. UBS Group boosted their price objective on shares of Snowflake from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, May 23rd. Wells Fargo & Company lowered their target price on shares of Snowflake from $225.00 to $200.00 and set an “overweight” rating on the stock in a report on Friday, June 21st. Finally, Robert W. Baird dropped their price target on shares of Snowflake from $210.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, May 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.31.

Snowflake Stock Up 0.4 %

Shares of SNOW opened at $129.35 on Wednesday. The business has a 50-day simple moving average of $135.57 and a two-hundred day simple moving average of $163.73. Snowflake Inc. has a 12-month low of $122.60 and a 12-month high of $237.72. The stock has a market cap of $43.31 billion, a PE ratio of -46.03 and a beta of 0.85.

Snowflake (NYSE:SNOW) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.88) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.48) by ($0.40). Snowflake had a negative net margin of 30.80% and a negative return on equity of 15.99%. The firm had revenue of $828.71 million during the quarter, compared to analyst estimates of $786.95 million. On average, equities research analysts expect that Snowflake Inc. will post -2.28 EPS for the current year.

About Snowflake

Snowflake Inc provides a cloud-based data platform for various organizations in the United States and internationally. Its platform offers Data Cloud, which enables customers to consolidate data into a single source of truth to drive meaningful business insights, build data-driven applications, and share data and data products, as well as applies artificial intelligence (AI) for solving business problems.